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September 26, 2024
As part of our recurring international research trips, manager diligence team members from Pathstone traveled to Mumbai, Singapore, and Hong Kong over the summer. We travel to meet managers in order to support our significant existing client allocations to international equity markets and our continuing mandate to find whom we believe to be the most attractive investment managers around the world. We also meet managers and investment teams on their home turf to better gauge local talent and trends and to meet managers earlier in their fund lives.
This “note from the road” is intended to help frame some of the opportunities, risks, and other takeaways from our visits with asset managers focused on the Indian equity markets.
September 10, 2024
August turned out to be another positive month for equities and bonds even as economic data presented a complex picture, with inflation’s continued descent below 3% bolstering expectations for a soft landing, but weak labor market and manufacturing data revived fears of a potential economic slowdown. The month’s weak employment data catalyzed a downward drift in yields. This shifting yield curve landscape has fueled a remarkable rally in bonds and interest-rate sensitive sectors, with US Aggregate Bonds, REITs, and Infrastructure posting impressive gains since late April. Additionally, despite a robust Q2 earnings season, the vaunted “Magnificent 7” stumbled, contrasting sharply with the broader S&P 493’s positive performance and the notable strength in defensive sectors.
August 22, 2024
Estate planning can be viewed as a tax-focused financial necessity for those with significant wealth. We believe that estate plans can also provide an opportunity for meaningful family engagement about shared vision and purpose as well as individual values and goals. An effective estate plan entails clear communication about the intent behind these gifts, so that recipients understand and appreciate the purpose of the inheritance, fostering a sense of responsibility and stewardship while also freeing them to use inherited wealth to enhance their lives.
As a follow-up from our June webinar series Estate Planning Essentials: Integrating the Technical and the Human, this article focuses in on the importance of starting the planning process based on what matters most to your family.
